In an email to faculty Friday, Steve Williams, College of Business dean, broke the news.

“It’s official,” Williams wrote. “The College of Business at the University of Arkansas-Fort Smith is AACSB accredited.”

“Earning AACSB accreditation represents an important milestone and an acknowledgment of the hard work, dedication and teamwork of faculty, students, alumni, employers and all of our supporters,” Williams stated in a press release. “We view this accomplishment as an important step in strengthening and growing UAFS and advancing its mission.”

Williams added that AACSB accreditation has been earned by less than 5 percent of the world’s business programs. There are 672 business schools in 44 countries and territories that have achieved AACSB accreditation.

“This puts us on par with the best universities in the world, and our graduates are now on an equal footing with their peers from these select institutions of higher learning,” Ray Wallace, provost and senior vice chancellor, stated in the release.

Founded in 1916, AACSB’s global headquarters are located in Tampa, Fla., and its Asia Pacific headquarters are located in Singapore.

“When a school is AACSB-accredited, it sends a message to students, parents, guidance counselors, employers, faculty/staff, and other schools that it is one of the best business schools in the world,” the AACSB web site states.

Achieving accreditation can take several years. Wallace said that when he arrived on campus in 2007, the university was still working out issues related to applying.

“The whole university community and beyond should be equally proud, since this accreditation reflects well on the campus-wide support for the College of Business and, indeed, for the level of community support shown to this fine academic college,” Wallace said.